Bitcoin Forum

Life is rather uncertain nowadays as anything can happen at any time and we would be caught off guard. That’s also one way to describe the current economy at this stage. With the world’s economy expanding and expanding there have been more crashes as the years go by and they are becoming more frequent and some say at any moment one could happen.

So you are left with a situation in which the money you currently own, fiat money: the dollar bills & coins, will become worthless and you cannot even buy anything you need to survive on a day to day basis. In this situation, people will have to resort to a system of bartering like in the stone ages. I guess if you have a lot of stuff with value you can trade that would be great, but a majority of people don’t have such a stash. Things can get ugly real fast.
   
Therefore, in such a doomsday situation you have to come up with a situation in which you can trade with people in order to survive. There are two solutions I can come up with, either using precious metals such as Gold & Silver or using Cryptocurrency. Considering that fiat currency is useless, Cryptocurrency might raise in value so that it can be useful as a means of trade as long as the Internet still exists which will most likely be the case.

Sure, that's a possibility I guess, in maybe the same way being a victim of spontaneous combustion is technically possible, but incredibly unlikely. It's probably good to be aware that those corner cases exist but it's a far better use of time to plan for much more likely scenarios, like retirement with the current financial system mostly intact.

I don't think dollar is going to become worthless. It is becoming less valuable day by day because government is making it that way. When it will reach a stage where it's value will diminish 100 times from what it is today then government will most likely slash out last two zeroes from the currency denomination which means 100$ will become $1. We have seen this happening in countries experiencing hyper inflation but this can also be done in normal scenarios of inflation. Obviously this is something which could take a lot of time. But definitely what you are saying is not likely to happen unless there is some significant tragedy that paves the way for complete Economic meltdown. And as history says economic meltdowns generally pave the way for political revolutions too so be sure we are getting a new type of rule too if there is such a situation.

As long as internet runs, I guess the financial crisis will still be solve in the light of cryptocurrency. If internet however is not going to be available anymore for some reason, there will be more valuable commodity other than precious metal to consider collecting while crisis is going on. I do hope we are not going back to no internet era though. A lot of us are already dependent to the internet, I can't live without it anymore unless I have sacks of salt stored in my basement.

So according to you, if fiat becomes useless and loses its value, the price of crypto currencies will rise, right? But isn't the rise of the "price" of the coins just a mere reflection of the useless fiat currency? I mean inflation has caused the price of the crypto currency to rise and using this crypto currency you still won't be able to buy anything (cause you will be holding the same value of coins as your fiat, that is say 100 dollars worth of bitcoin) cause of the high price of goods. Again, if fiat becomes useless, how will we evaluate/compare/weight the value of crypto currencies?

In the case of a complete collapse of fiat money, cryptocurrency can be a way out. But can such a crisis happen? I think gold, expensive metals, oil and similar assets will have value, but cryptocurrency can be an intermediate means that will replace fiat

In the event of a doomsday situation or financial crisis GOLD and Silver fail the test of payment mean as they are not portable. How am I going to buy food with a gold/silver bullion bar? So I think the best solution remains cryptocurrency which is not controlled by any government. That would fit Bitcoin use case. But in the event we remain without electricity it's not going to be viable anymore isn't it.. Like you can't have internet without electricity and you can't have a p2p network without internet. Hopefully we won't experience such a catastrophe.

The scenario that you are presenting is very extreme, if fiat currencies become completely worthless to the point that you cannot do anything with them it is fair to question us whether or not the electric grid will still be functioning, if that is not the case it doesn't matter how much bitcoin or other cryptocurrencies you are storing because you will not be able to use them, and at that point gold and silver are not going to be that valuable either because very few people have it and there will be many forgeries, so it is likely people will use all kind of useful items to trade, like medicines and other medical supplies, alcohol, weapons and other useful stuff.

When you talk about fiat money becoming worthless, you're really talking about every currency becoming worthless, and that has never happened that I know of.  It's happened in hyperinflation situations in Germany and Zimbabwe and Venezuela, but never has the entire world's fiat failed all at once. 

What kind of economic disaster do you think could cause that to happen?  I would say that if we had a crisis so unbelievably dire that all money became worthless, the world would likely be ending.  In that case, we're basically talking about a zombie apocalypse--food, land, guns, and a nice cozy bunker with a generator and some booze would be what you want, not gold or silver or cryptocurrency.  Certainly not cryptocurrency.

And what happens when a single currency fails, like in Venezuela?  They start using a currency that's stable, like the US dollar.  They don't use precious metals and very few of them turn to crypto.  I know people here like to believe that bitcoin will save the day if a disaster hits, but I just don't think that's the case.

If it gets this bad, neither silver, nor gold, nor any cryptocurrency is going to retain their value. Food, medicine, tools, weapons, fuel, clothes and textiles, vehicles and automotive parts are all going to be more valuable due to their utility. Ubiquitous access to Internet would also become a thing of the past.

Barter is one way about it, particularly during an actual crisis or temporary transitional state. But sovereign currencies are likely to be rebooted by governments -- not necessarily as free floating fiat since those would have failed, but as backed currencies. Perhaps a return to gold and silver convertible dollars, or notes backed by a diverse basket of assets. Maybe we'll return to privately issued notes like in the free banking era (https://en.wikipedia.org/wiki/History_of_central_banking_in_the_United_States#1837%E2%80%931862:_%22Free_Banking%22_Era).


It really depends on the nature of "doomsday." In a post-apocalyptic world with no internet or power grid, miners would be bricks and bitcoins would be useless. In a really brutal world, even gold would be worthless -- bullets and canned food would be much more valuable.

exactly this.
in a crisis bitcoin could surge to $1m a coin.. but what should be explained is this weeks price can buy 8500 loaves of bread. but in a crises, if still measuring against a useless $ amount. will bitcoin buy 8500 loaves of bread or 1million loaves of bread. i guarantee you it wont be 1million loaves of brad even if the $ was 1m a coin



.. as for the crisis question its not a IF but a WHEN. and people think its gonna b a long time because mortgages have not been so neglectful as previously so mortgages wont trigger the next crisis. however its pensions/retirement funds that WILL trigger the next crisis
this is because the 'baby boomers' the generation straight after WW2 where there was extra population growth are now reaching retirement age. but the issue is that there isnt enough in the retirement funds to cover it.

imagine it $1 put away for retirement was like 10 loaves of bread so someone wanting a moderate lifestyle would have put back $8 a week out of their $100 pay hoping the 40 years of doing so ($16k) would give them a nice 10 year living allowance of $160 a week
which back then seemed like 66% more then their current wage

but as we all know $160 doesnt buy people very much these days and if people are living 20 years instead of 10 years and on a guaranteed minimum payment that $160 a week soon dries up well before they would probably die

back in the 50's people were not living long lives so planning pension funds in the 60-70's when boomers started working was based on math of not living as long. yet the 80s, 90's and 00's seen medical revolutions ensure people live longer.
people no longer die as much from

diabeties
because theres medication for type 2 and better understanding of type 1&2.
gone are the days of old people needing to pee every hour of the night and just call it getting old. now its a symptom of diabeties and treated and so people dont suffer the symptoms of diabeties. thus live longer. less amputations occur now, less people going blind, less having blood/kidney issues.

heart issues
blood pressure meds, chloresteral meds, better diets, smoking popularity has declined heart transplants and pacemakers have more success. generally less people die of heart issues than 60 years ago

this means they will be taking more monthly pension payments than predicted, meaning taking more out of the pension pots than other generations. and this pot of funds is not infinite.

so with previous estimate that pensions meant to last people until they are 71yo (someone born 1950 would be 71 in 2021) is now expected to live until 80yo(2030) thus a deficit of 9 years where funds were not predicted. and thats before accounting for inflation changes over time which affect how much funds come out per month compared to predictions 70 years ago

so as i say, the next time bomb is nearer then most think.

and what happens when the USD collapses? ;)

the global economy is drastically more interdependent now than the days of weimar germany. the '97 asian financial crisis and 2008 global financial crisis illustrate that future crises will be increasingly characterized by financial contagion. (https://en.wikipedia.org/wiki/Financial_contagion) just imagine the chain of events that would occur if the USA could no longer pay its debts and the USD---the global reserve currency---collapsed.

the entire global economy would be thrown into upheaval as never seen before. the dollar definitely wouldn't go down alone.

Not sure about this, your assuming situation where all fiat currencies (on every country) goes through hyper inflation which is almost impossible unless every country has a recession.

Also, in a world where the dollar is useless, how would crypto-currencies take over? Wouldn't essential living supplies (such as food and water) be used as batering products and all currencies be forgotten about. Who would accept useless coins for a week worth of food?

That is what history tells us, but its not just metals (or crypto), but anything that is deemed to be valuable. After Germany was defeated in WWII, their money became worthless, and people were using cigarettes or bottles of liquor the occupation soldiers would gladly exchange for their foreign currency.

Just about anything that doesn't perish can be used, and perishable things too but with a very limited timespan. Of course bartering is also done, when possible and if convenient for both buyer and seller. Say flour for eggs or such, rather than go fetch a wheelbarrow full of banknotes that lose their value from the time you are told the price to the time you actually deliver it, and that is when you don't have a crisis getting the actual banknotes in the first place.

In this forsaken country, you can only withdraw a single banknote per day from a bank. They made 3 types this year, and the biggest one is equivalent to just 2.5 USD at current exchange rates.

The "socialist" government just rose the min wage, 7 TIMES. Wow, applauds the left, until you find out this means that, today, the wage went from 2 USD a month, to 15 USD a month, for a full time job. At the current inflation rate, it will become 2 USD again in a couple of months, give or take...

I mean that's not entirely impossible, but I don't think fiat would be worthless in that scenario. I mean, if fiat would be worthless, how much more to cryptocurrencies? I know what's your pointing out, it is just that it is not that rational in a way that fiat would be always fiat . But it what you have mentioned is good in a way that we must not just lend or partition our money on one type, we should at least make it on other types like crypto

Even if un-backed fiat currencies are replaced, government issued currencies aren't going away.

I think we'll go back to some variant of the gold standard, where legal tender is pegged to hard commodity value. Decades from now, I could even see government money being backed by BTC.

Contrary to views that crytpo might flourish in the event if an economic crisis. I am highly skeptical about that. If the traditional payment system which is fiat gets so devalued, then it's dragging cryptocurrencies alongside with it because no one will have the resources to afford or keep up with its requirements and that becomes a problem on both ends.

Of the three Gold & Silver or using Cryptocurrency, the latter is the best option, it is the most sought and with high potential assets eight now, I agree that as long as the internet is existing we will have Cryptocurrency it's now part of our modern way of life, it's gives us equality whether we are living in a first world country or a third world, but I highly recommend that you not put all your eggs in one basket, you must also include gold silver must put more on Cryptocurrency.

I agree with you, sir CryptoDoomslayer_69, there are many brewing pots all around the world right now and we don't know yet exactly when things will get worse but years from now things will be exploding right before our eyes. I am talking about the global economy and our changing political landscape. A great conflagration is about to occur that can affect all mankind...will it be another world war?



This is the reason why I am learning to farm skills so that if the money I am holding would have nothing to buy then I can still have something to eat and live, and then be a witness to this part of our history. Don't worry, I am going to update you guys in this forum for developments.
Yes, we can go back to the barter system, that has no problem with me so that people will go back to being producers and providers. Don't worry about it, humans are known to be great improviser at least we have YouTube to watch for some guidance on many how-tos. Are we returning to becoming primitive soon?




In the doomsday scenario, I think everything will be worthless and storing gold/silver can be a problem as they can be the reason why some robbers can be after you. Nah, better store up foods and since we might not have any internet connection at that time then there is a problem connecting to our wallets. I am not so sure if people will even prefer to accept Bitcoin at this situation...maybe there is a bigger chance that foods can become the currency which is true yes in the barter system. Now, I still have to ask if CZ is willing to open Binance if there will be nuclear attacks all over.

That's a possibility but still far and unlikely to happen. You're right that cryptocurrencies would be the thing if this would happen since if financial crisis would happen, all these currencies would crash and people will seek for alternatives to where they'll put their funds. But I don't think it's going to happen soon and I don't hope it will. Bitcoin will gain popularity and it's much better if done on a steady manner than just a bubble that would burst once the crisis was over.

If crisis would lead to total crash and no recovery, then cryptocurrency would come into play and may replace existing currencies. But we're still far from it.

Problems related to financial crisis, we can learn from history when it happened in 2008. When the global financial crisis occurred that made all countries experience economic problems, in 2009 bitcoin appeared with its blockchain technology. After that the global crisis began to subside, this is evidence that cryptocurrency could be one solution to the financial crisis. That way it's clear for example a few years in the future there will be a next financial crisis, we don't need to panic because as long as there is cryptocurrency with technology blockchain can be a solution.

in the case of such crisis I don't think that any of cryptocurrensy  will survive. in order to use them you need internet, electricity, computers - all such stuff won't be available at all, or there will be shortage of it, and that is why it will be useless..
but there are some really important stuff you will need and it can be used as barter - cigarettes, patrons, conserves, chocolate..
these things will be really valuable!
 

I think in the doomsday situation as you described it is possible there is no internet network guys, all back to the stone age it could possibly happen. For example, if everything is completely destroyed and there is an asteroid that crashed into the earth and the electricity network is all dead including the internet, bartering goods to get food can happen. But this is just an illusion, yes, I hope this world remains safe and everything is safe, so that we can continue to work and keep the earth from being destroyed

For paper money of world states to suddenly become completely useless, a global catastrophe must happen. If the paper money of the state becomes useless, not so much hyperinflation occurs, the state itself should practically collapse and cease to exist. I think that at the same time the Internet will disappear, and with it the cryptocurrency. Therefore, cryptocurrency can only exist in a high-tech society. If a global catastrophe happens, the satellites will fall and the Internet will disappear. If the Internet and cryptocurrency exist, then the national money of states will certainly exist. Therefore, I do not think that cryptocurrency will ever save us from a return to barter relations.

it is a very difficult thing for us to think about if there is economic damage in the future but only a few people believe that someday paper currencies may no longer be traded, it will be like the previous period where people only used dinars and dirhams in return for the necessities of daily life so as not to starve to death, or they will adapt to bitcoin and cryptocurrency if at that time there was still an internet network.

yeep, you are right guys .. we are heading to a situation like you said every day the price of an item is increasing, while the value of fiat currency is getting destroyed. when that happens, we won't be able to survive. except currency transfers in precious metals or cryptocurrencies. it will save us.

gold and paper money have long been used as a transaction tool, but the value of money is increasingly worthless. only gold can be used as an investment whose value is not affected by inflation. I believe in all parts of the world feel things where money is increasingly worthless.
This concern is also associated with cryptocurrency which is increasingly declining in price, is this related to the circulation of fiat currency which is increasingly worthless.

FIAT is actually money that has no price, it's just a piece of paper that happens to be recognized by everyone,
the real money is actually dinars and dirhams, it cannot be replaced by anything, because from ancient times until now it will still exist, whereas cryptocurrency is actually only an answer by our economy now, and in my opinion cryptocurrency is the future, and FIAT should join cryptocurrency because decentralization can take away our privacy rights.

Internet can not be erased in our technology these days, most of our daily works are dependent on the internet and this is a digital era in which internet plays a big role in the society, even if there is a big war that is coming, internet will remain and it could only be erased if the Government will literally destroyed all of the physical source of the Internet like the Satellites in the space.

Without internet is like without Electricity, the whole world would be blackout and everything will be slow and will disorderly misfunctions.

I will not agree that all fiat currencies will be worthless but I do agree that there will be some fiat currency that will suffer from inflation and will be useless.  If there will be global economic recession the currency that will suffer the most is the US dollar. And if that will occur people will be migrating to cryptocurrency to save their asses from the economic break down. And if that thing will happen a new fiat currency will replace US dollar in the financial market and that new fiat currency will now be backing up cryptocurrency replacing the US dollar.

We're not going back to the stone age era. Even if we experience financial crisis, we ain't going back to that era because that's very different from today. The government may find something that'll solve the problem and crypto can be an option to that. If a certain country experienced that situation, its allies would help them right??

But let's look at the situation in Venezuela where they're having a crisis, they aren't really adopting crypto that much...

One example is the Hongkong crisis but I'm glad that it was resolved if I am from Hongkong and I see crisis going from bad to worse I could convert my assets to Cryptocurrency and fly to other countries that are Crypto friendly, authorities will never know that I will be bringing out all my assets outside, because they have no way of knowing it, you can hold all your private key in a USB or in an encrypted email.

I think that if we are talking about an event similar to the one in 2008, maybe slightly more significantly (that is, a global economic crisis), then I'd choose Bitcoin to store my money. It can go down along with everything else, sure, but I am confident that it can recover from the drop, whereas the top fiat currencies might not (they lost too much value through the years already, so a big push might lead to their collapse). Gold might be not a bad idea, but it's just something about me and gold that I don't really value it and feel like having it. If we are talking about a Nuclear War kind of event, I'd buy warm clothes, non-spoiling food, anesthetics, clean water, weapons for protection and some philosophy books like Plato's dialogues not to degradate significantly and not to get crazy (assuming the internet is down).

We cannot compare the prices and market value of these assets as they have their own respective values and uses. Bitcoin and cryptocurrency is technically a currency on the internet. And in this regard, its transaction volume is comparatively more higher than the transactions in Gold and Silver that is mainly made for jewelries, conductors, and with other practical purpose. Bitcoin is an crypto asset, while gold and silver is a physical asset.

of course every country has a good future, it is not possible if we go back to the stone age where the goods we have are used to buy and sell. although in the future we will experience a financial crisis, each government must have its own way to overcome it. and I think for cryptocurrency holders there is no need to worry if that will happen, because in reality cryptocurrency can help overcome the economy for its holders

Cryptocurrency is still the safe haven for us when financial crisis happens again, simply because its value continues to rise even if we are still on a bear market. If you have more fiat money when crisis happens its kinda useless because of its value is low while the commodities are too expensive.

If internet is continues,cryptocurrency will also continue helping our financial crisis but it will happen if government will not ban it. Yes,cryptocurrency will be the help for financial crisis but i think it could not replace any fiat money because of our government monetary regulation. Remember cryptocurrency is decentralized but it is one of the answer to our economic problem.

For me, the economy will be imbalance if the government will suddenly adopt cryptocurrency or implement it in replacement of fiats. What they need to do is to convert the fiat first to crypto, because when time come, those that aren't wealthy before will suddenly becomes rich because of crypto. But I am pretty sure that when it will going to happen, government or financial institutions will take it slowly but with assurance that it will yield for the greater good.

With the destruction of the value of FIAT, I think I have to support this. For some countries that cannot meet economic needs and will destroy the value of their currencies, the concept of barter can be an alternative, but for digital currency it seems that it is not. I seen the state of the economy of a country now depends on the technology and resources they have. If they can't maintain the technology, then how can they trust cryptocurrency as an alternative payment?

Compared to Fiat, we all know that cryptocurrency has a multi-function, as a means of payment, commodity trading, and investment tool. Of the many functions, we can use it according to our individual needs and passion. I always say that learn your potential, then maximize it with the opportunities that already exist.That is one important aspect. So I always say, there is no substitute between fiat and cryptocurrency, but complementary. That's all to help increase the ease for humans in living life and achieving economic targets.

The question would be, are the people willing to accept cryptocurrency?  If they do then definitely it will help a lot in time of crises such as stated by OP.  If not then people will go back to the old ways of bartering goods for another goods.  And I believe the one that can be of more used would be the cryptocurrency issued by the government since people whether we like it or not trust the government issued coins that the one issued by an unknown developer.

Is it even possible for all countries to lose their currency value? Other countries have experienced that already due to hyperinflation but is it really possible for all countries at the same time? Even if it does, I dont think cryptocurrency will be their next option. One factor is the government who don't support crypto. Second are the people who are not capable of adopting crypto.
If all money loses its value, maybe they'll make "new money" to start over again.

It is obvious that once the government losses control of the economy they are going to try to gain control of it again by backing their currencies with something tangible like gold but at that point in time will their citizens once again trust the government to issue a currency that it will not crash? I say this because most currencies started as being backed by gold, then the backing was withdrawn and they became fiat currencies, what will stop the government to do this again?

we may not be able to use anything when doomsday come, all you can do is loot every store you can find and stack up for more food to survive in the coming days. guns will definitely help you more. doomsday is a scary day. i may have pictured it too harsh but if the military can still control the people in your country in doomsday it would be good. currencies will have no value when it happen not even crypto. water is perhaps the most important in that time.

But the government unfortunately decides what stays and what goes and they usually are not at a good pace with bitcoins therefore you know I think it's hard for bitcoins and other cryptocurrencies to stay in pace when it happens , also people are always scared of the government and I think they would need some time to see the good in cryptocurrencies and get aquatinted with them, financial crisis is gonna happen really soon , and I think it would actually let everyone know how the banks are not the only think they need to trust .

Who's government do you pertain to?  Not every government has to do negatively with bitcoin. There are many countries that accept bitcoin and their government made bitcoin legal on their own states. I think a financial crisis will vary on the country to be specified. Banks are centralized and most of the government wants to have the banks as their own asset so it will be natural that governments will have their back on banks.

the market will cross that bridge when it comes to it. as long as notes are convertible to gold, silver, BTC, etc (same as the gold standard era) then the market will treat them as such.

it's just like tether. the market knows for a fact USDT isn't fully backed, (https://www.coindesk.com/tether-lawyer-confirms-stablecoin-74-percent-backed-by-cash-and-equivalents) yet it still trades at $1 or even sometimes above. why? because enough people can redeem USDT for dollars that arbitrage keeps the price pegged.

You know who will survive in the case of the financial crisis? Exchanges like OKEX (http://okex.com), Huobi (http://huobi.com)

In a potential economic crisis in the world, cryptocurrencies will be very crucial on finding a way out of that situation. Especially gold will be a very good option too, as most people know about gold more than Bitcoin.

I find it hard to believe a recession will result to bring us back to the old age though. Its not like it had not happen before. The fiat will still have value though it may have lesser value.  The countries that had been suffering for a long time will have its advantage because people there are already used to living in worse condition. But I'm hoping this will not happen because there isn't yet people migrating to a more stable countries.

When a financial crisis comes now asset can guarantee as a safe have for our money, remember that the last financial crisis we have everyone has been liquidating their assets from stocks to real estates just to exchange it all with money they need to spend, the same scenario can happen with crypto hodlers that there would be a point in time where they would need offload their cryptocurrencies just to have the money they needed.  My advice is before your assets are affected I would suggest that you convert it to cash as fast as possible and wait for these assets to fall down and bottom out, this is when the assets won't only act as a safe heaven but also a good investment once the recession ends and the economy stabilizes.

I think cryptocurrencies doesn't have the power to do that yet. For this to happen, at least a few large countries would have to perform effectively. But the cryptos are far from legal. it is certain that the capitalist economic system has major problems. But we cannot say that we have reached the masses who can solve this.

There is an economic crisis that is sighted on horizon. When it comes, fiat currencies will have big difficulties. People will start a search for alternatives to fiat currencies. Then, more people will discover cryptos and especially Bitcoin. And the demand for Bitcoin will start to increase very fast.

Key word here is 'replacement'. A lot of people have that all in mindset where they expect governments and big corporations to just instantly accept crypto-currencies, which is likely not going to happen, especially when it comes to decentralized and volitale options like Bitcoin.

The attempt it looks they are taking is slowly incorporate blockchain technology into their payment systems, and the first wave of this is in the stablecoins that are getting attention since they are much safer then Bitcoin and other crypto-currencies.

After that's done, we might see Bitcoin and other crypto-currencies be implemented as a true payment system on the existing network of stablecoins and government-created crypto-currencies.

I think cryptocurrencies will be too valuable in an economic crisis. I have some Bitcoin and I think of buying more and store them. I see Bitcoin as a good investment tool like gold.

You have a very strong point though it might look a bit difficult to occur. So many currencies are struggling in the internation market. For instance in most African countries  a dollar is about 5x worth their currency which is bad. The worst of it all, most of them are huge importers other than exporters further worsening their currency. If things are to down fast i think African countries would suffer the most

While the demand for bitcoin at that point will increase significantly the real action will happen on the supply side of the equation, what are going to do all of those people that are holding bitcoin? Many speculate that they will sell their coins but I cannot see the point of that, why would you get out of a coin that everyone wants and get a coin that no one wants, most likely what will happen is that those that are holding bitcoin will keep holding it and will only exchange it for stuff of real value.

Like buying food or probably gasoline. But its likely to also not buy BTC instead since they can directly buy those stuff with the current fiat, prices of the daily commodities will be a lot higher by the time there is crisis too. Investing could be the last thing in their minds when there is crisis, all they want is just to stack supplies as much as they could to fill their cabinets with sugar and can goods. The only who will hold BTC are the ones who already have before the crisis.

The financial crisis may also negatively affect the cryptocurrency market, because as a rule all assets fall in value. I think that there is a good chance that cryptocurrency assets will also fall in value.

No I don't think this is a financial crisis and neither this bearish market last longer I am sure things will improve post bitcoin halving and once the value of bitcoin starts increase the entire crypto market will be back on track as we have witnessed numerous crisis like this. Kindly be sure about the post as this might create more FUD.

And also when you check the history of bitcoin you can observe that is normal and the price of the old bitcoin is less than a dollar so it is not a bitcoin or cypto crisis because the market can control by the investor and also the whale.

there are some issue regarding bitcoin and it is not good to have a unstoppable increasing of the price of bitcoin so it means that the price was good.

Most people thinks that economic crisis will avail for cryptocurrency market. I think the same too but I can not be sure of anything when it comes to cryptocurrencies. But it seems more sensible considering that fiat currencies will have hard days.

You are inflating the potential negative effects of financial crisis. Yes, the FIAT will become less valuable in case of crisis but it will not crash to such levels that people will not be able to afford anything, just look back to last crisis. Was it so depressing as you want to tell us? No, the regualtary instutions took steps to regulate the situation. Cryptos should get a good boost in those times.

I think there will be a some kind of war between cryptocurrencies and gold in a possible economic crisis. Cryptocurrencies are more popular in the last years but gold is in a stronger condition now. But because of the popularity, especially Bitcoin will be preferred highly I think.

I agree Cryptocurrency is the best right now

You can simply think that people will use crypto than metals just like gold for the reason that gold isn't a currency. I believe it was not about popularity and value, people will use crypto as the second option over fiat money cause that's the only we have in order to survive once that doomsday may come. We can only trade gold for money, I believe also for food but I don't know if we can make this in other stuff.

But if we face reality, it somehow to think that even crypto can be no longer to use when we are deeply in crisis.

Financial crisis is a very fearful time. Before it could happen its time to save and invest now for emergency cases like that. Crypto currency is also good to invest now or save for now where it is possibly be the future currency. Its better to have diversified currency to have more options and funds to use whenever that financial crisis will happen.

If you're comparing gold and sliver to a bitcoin and cryptocurrency, you're comparing a speculative and extremely risky investment with another one that is literally known and popular due to its stability. Not a fair comparison, especially when Satoshi's vision with bitcoin was a coin that was actually about to be spent and used in the world, away from the restrictions of the bank.

In a financial crisis, where everything goes to shit, crypto-currencies, fiat, and even gold to an extent would be very worthless - having the essentials would be essential here.

I don't think so, Following your statement, I have some different observations in this issue, I don't know why you are saying that Fiat is becoming worthless and gold and silver should be used for the payment purpose, I think everything is going on an average margin, Still cryptocurrency is in an early stage so it requires time to get up alone, It's also true that when cryptocurrency will get accepted around the whole world then it might be the precious thing in comparison to fiat money. but this is not the perfect time, but I don't compare gold or silver to the cryptocurrency, I think those materials have more acceptance rather than crypto, in the future cryptocurrency will be the main thing. so cryptocurrency will dominate in the market.

Economics recession is different from doomsday, fiat will still worth something as long as a country still has something as back up such as gold reserve.
The most important thing should be the agriculture industry to provide enough food for citizens.
Doomsday will happen after the nuclear war, which means the internet will go down i.e vanish, so does bitcoin.
in this case, even gold will lose a lot of its value, food and clean water are the 2 most important commodities, that's why if you watch National Geographic where some people prepare for the doomsday, they built fortresses, equipped with weapons in order to protect themselves and their food supplies from others.

Cryptocurrency will become one of the means of preserving capital, but for ordinary people. Institutional investors still prefer gold because it exists. The question is what percent of the money will flow into Bitcoin. And do not forget that after the crisis, money from cryptocurrencies can also quickly leave and the exchange rate will collapse again.

Things didn't get that bad because as you state the crisis was averted but we have seen many cases through history in which the government was unable to stop the financial crisis they were going through and when that happens things get really ugly, now there are some people out there that think things will never get that bad but that is a classic case of people thinking that this time will be different, that this time we have finally master the way to print fiat without any consequences and each time history has proved them wrong.

Keep an eye on the market, DYOR, read blogs like OKEX blogs.

If we have financial cris I think that the crypto can help us because we all know that trading is the most easiest, efficient and shortest way to earn money. So if we want to earn money in a shortened period of time I suggest that trading is the best way. It can fulfill our financial problem and it can help us to pay our bills.